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23 Jun 2015
EUR/JPY levelling out on 'no-news-Greece'
FXStreet (Guatemala) - EUR/JPY is currently trading at 139.97with a high of 140.03 and a low of 139.81.
EUR/JPY met some early offers on the Tokyo open and bulls battle again for the 140 handle as we move through the hour. Meanwhile, the euro remains resilient in the face of uncertainty around the EU and Greek negotiations this week.
The EU summit concluded today without there being any information in details for the public while there are still negotiations taking place, although there is an air of optimism that a deal will be struck this week with there still being a great deal of work to be done, as explained by IMF's Lagarde overnight. However, EU's Junker is confident that something will be agreed this week, when he said in the press conference post the EU summit that it has to be done.
EUR/JPY volatility to pick up?
140.00/65 would be very bullish should the bulls take control on a deal this week and this would leave a case for a buy on dips strategy going forward. Volatility may pick up as we progress through the week around the Greek crisis and if there are too many delays in detail delivered to the markets, it may be presumed that we are at a deadlock again and the possibility of a Grexit could be de-shelved once again. Fears of a Grexit would likely see the euro down to parity on the greenback and be disastrous for the cross's bulls.
EUR/JPY met some early offers on the Tokyo open and bulls battle again for the 140 handle as we move through the hour. Meanwhile, the euro remains resilient in the face of uncertainty around the EU and Greek negotiations this week.
The EU summit concluded today without there being any information in details for the public while there are still negotiations taking place, although there is an air of optimism that a deal will be struck this week with there still being a great deal of work to be done, as explained by IMF's Lagarde overnight. However, EU's Junker is confident that something will be agreed this week, when he said in the press conference post the EU summit that it has to be done.
EUR/JPY volatility to pick up?
140.00/65 would be very bullish should the bulls take control on a deal this week and this would leave a case for a buy on dips strategy going forward. Volatility may pick up as we progress through the week around the Greek crisis and if there are too many delays in detail delivered to the markets, it may be presumed that we are at a deadlock again and the possibility of a Grexit could be de-shelved once again. Fears of a Grexit would likely see the euro down to parity on the greenback and be disastrous for the cross's bulls.